UPI started in Cambodia, NPCI started the service in collaboration with Aclada Bank, Indians will be able to make direct payments at merchants.
Delhi. NPCI International Payments Ltd. (NIPL) in partnership with Aclada Bank has launched Unified Payments Interface (UPI) payment facility in Cambodia. The facility will be available through Cambodia’s national ‘QR’ code system ‘KHQR’. According to an official release issued on Tuesday, this initiative of the international branch of National Payment Corporation of India (NPCI) was launched at a formal ceremony held in Cambodia’s capital, Phnom Penh.
Cross border Indian payment started
The event was attended by Dr Chea Serey, Governor of National Bank of Cambodia (NBC) and representatives of the Reserve Bank of India. The ceremony marked the official launch of the first phase of cross-border Cure payment connectivity between India and Cambodia. Indian travelers will now be able to make secure and seamless digital payments at more than 45 lakh merchant establishments in Cambodia by scanning Cambodia’s standard and interoperable QR code system, Bacong KHQR. This facility will be available at tourist places, restaurants, retail shops and other business establishments.
Indians going to Cambodia will get facility
Payment can be made through Indian UPI-enabled mobile apps. In the next phase, Cambodian citizens will also be able to make payments using their Cambodian banking/payment apps at millions of UPIQR-enabled merchant establishments in India. This will establish a bilateral and interoperable digital payments corridor between the two countries.
Taking India’s digital payments to the global level – NPCI International Managing Director
Ritesh Shulka, Managing Director and CEO, NPCI International, said, “NPCI International aims to take India’s digital payments innovations to the global stage through trusted partnerships. The launch of UPI acceptance in Cambodia is an important milestone in this direction. This will provide Indian travelers with a familiar, secure and seamless payments experience abroad, while Cambodian merchants will gain access to millions of digital consumers. This collaboration will strengthen real-time connectivity between the payment systems of the two countries. And will deepen tourism and trade relations.”
Dr. In Chaney, Chairman and Group Managing Director, Aclada Bank, said, “Aclada Bank is proud to launch the first phase of this cross-border interoperability initiative. This will enable Indian travelers to conduct secure digital transactions through UPI-enabled apps on our extensive KHQR merchant network. This partnership is a significant milestone in our digital transformation journey.
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